Property fraud is rampant let's face it.
This was always the issue when we switched from paper to digital title certificates.
Is blockchain the answer?
A techie friend of mine explained how this works. The blockchain cements each deal in aspic. So if you want to hack a transaction, you need to change all the preceding transactions as well.
As if that is not hard enough, you need to do this across 1000's of computers.
This is nigh on impossible. Could this be the answer to the ever growing fraud?
Let's all hope so.
Blockchains are best known for keeping track of who owns purely digital currencies like bitcoin, but government agencies and for-profit companies are increasingly exploring how the digital ledgers can be used to track ownership of something very tangible: real estate.